Chase Manhattan Wednesday gave its clients access to an
electonic marketplace offered through the bank’s co-branding alliance with
TradeOut.com.
The alliance gives businesses access to an outlet where they can dispose of excess inventory and assets. Chase, through its newly formed business unit Chase.com, is focused on creating Net-based
business models.
The co-branded service promoted through Chase’s CMB
marketing network leverages Chase’s traditional role as a financial advisor
to provide additional services to the bank’s business clients. Buyers and
sellers benefit from the TradeOut.com marketplace. Sellers reduce excess
inventory and improve cash flow; buyers gain faster access to inventory and
supplies, often at a lower cost than through traditional methods.
Chase is trying to develop a business-to-business portal that, in addition
to auctions, will provide access to a full business services, including the
purchase of office supplies, logistics, recruiting and other services geared
to small-to-mid-sized companies. Chase has previously announced an
arrangement with Intelisys Electronic Commerce Inc. to develop an online
purchasing community.
“Online auctions are key to our full service business-to-business offering,
and we believe TradeOut.com is a best-in-class marketplace for the exchange
of excess inventory and idle assets,” said Denis O’Leary, head of
Chase.com.